OKC MAPS PROJECTS – 25 YEARS
Figure 59. Total Property Square Footage in Streetcar Impact Zone
30
Millions
25.85
24.94
23.81
25
21.68
21.34
20
15
10
5
0
2009
2011
2013
2015
2017
Source: Oklahoma County Assessor and City of Oklahoma City Planning Department
Growth in total downtown square footage is radiating outward from the path of the streetcar. Since 2011, total square footage has increased 11.6% in the block adjoining the path, 14.6% in the second block from the path, and 19.2% in the third block from the streetcar line. This radiating pattern is expected given that large segments of the streetcar’s path is adjacent to more highly established and densely developed structures. Nearly all the square footage gains two and three blocks from the streetcar path reflect new office and residential development. Office Space . The office market and downtown employment are closely tied to the long-run strategy underlying the streetcar system. Approximately 1.54 million square feet of net new office space has been added (15.4% gain) within three blocks of the streetcar line since 2011. Much of the added space (1.4 million square feet) is located within one block of the line and is traced to the addition of Devon Tower in tax year 2013. Small increases have taken place since 2013, pushing the current total for office space within three blocks of the streetcar line to 11.51 million square feet in 2017. Total office space in 2017 does not yet include 690,000 square feet of space that will be added as BOK Park Plaza, the new downtown offices of BOK in Oklahoma City, is added to the tax rolls in tax year 2018. Figure 60. Office Market Square Footage Growth in Streetcar Impact Zone
14
Millions
11.51
11.41
11.38
12
9.97
9.91
10
8
6
4
2
0
2009
2011
2013
2015
2017
Source: Oklahoma County Assessor and City of Oklahoma City Planning Department
97
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